Blanco County News
Weather Partly Cloudy 84.0°F (41%)
Capital Farm Credit Distributes Largest Ever Cash Patronage Refund
Wednesday, March 26, 2014 • Posted March 28, 2014

Capital Farm Credit stockholders will soon receive an all-time record $65 million cash patronage payment this spring.

The customer-owned lending cooperative continued its track record of strong earnings in 2013, enabling it to maintain its long tradition of returning profits to stockholders through its patronage program. Since 2006, Capital Farm Credit has returned over $385 million to its stockholders — equating to an effective annual rate reduction of 1.10 percent on an average loan.

“Capital Farm Credit is committed to the cooperative principle of managing our capital, and our business in general, for the benefit of our customers,” said Ben Novosad, chief executive officer. “Our ability to return patronage each year sets us apart from other financial institutions. We believe this is a benefit that strengthens customer relations and reinforces our mission to provide financing and related services to support Texas agriculture — while affording our membership lower net borrowing costs.”

Capital Farm Credit has provided financing to Texas farmers, ranchers and rural property owners for nearly a century. Headquartered in Bryan, it has nearly 70 offices spanning most of Texas. For more information about Capital Farm Credit and its patronage program, visit CapitalFarmCredit.com.

This article has been read 62 times.
Comments
Readers are solely responsible for the content of the comments they post here. Comments do not necessarily reflect the opinion or approval of Blanco County News. Comments are moderated and will not appear immediately.
Comments powered by Disqus